WM. T. HAMILTON, ESQUIRE, GOVERNOR.

777

Chapter 495.

AN ACT to incorporate the National Trust and

Guarantee Company.

SECTION 1. Be it enacted by the General Assem-

bly of Maryland, That Enoch Pratt, Christian

Devries, George P. Thomas, John Henry Keene,

Jr., William Si Powell, John W. S. Brady, Henry

S. Taylor, Henry V. Ward, W. Hollingsworth

Whyte, D. Pinkney West, Daniel W. Myer, Charles

Body corpo-

Poe and John A. Craig, and all other persons who

rate.

shall hereafter become stockholders in the company

incorporated, shall be a body corporate by the name

and style of the National Trust and Guarantee

Company, and by that name shall have perpetual

succession, and sue and be sued, in any court what-

ever.

SEC. 2. And be it enacted, That the capital

stock of said company shall consist of ten thousand

Capital stock.

shares, at one hundred dollars each, being one mil-

lion of dollars, with the privilege to increase the

same by a vote of the stockholders at a special meet-

ing to be called for that purpose, to two millions of

Privilege to
increase.

dollars; and the corporators, or a majority of them

named in this act, shall have power to open books

for subscription at such times and places as they

may deem expedient; and when not less than three

thousand shares have been subscribed, and when

twenty-five per centum thereon has been paid in,

the stockholders may elect eleven directors, to serve

until the ensuing annual election, or until their

Elect directors

successors shall have been duly elected and qualified ;

and the directors so elected, of said company, when

it shall have been organized, may, and they are

hereby authorized and empowered to have and to

exercise, in the name and in behalf of the com-

pany, all rights and privileges which are intended

to be hereby given; and should the capital stock be

at any time increased, the stockholders at the time

of such increase shall be entitled to a pro rata share

of such increase, upon the payment of the par

value of the same.

SEC. 3. And be it enacted, That the directors shall

be elected annually by the stockholders on the sec-

Election an-
nually.

ond Monday of January; and they shall elect from